XML 165 R37.htm IDEA: XBRL DOCUMENT
v3.24.1

Stock Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Stock Based Compensation [Abstract] |
Schedule of Recognized Stock Based Compensation Expense | The Company recognized stock-based compensation expense during the year ended December 31, 2023 and 2022, as follows:
|  | December 31, |
|  | 2023 |  |  | 2022 |
Performance-based restricted stock awards* |  | $ | (423,360 | ) |  | $ | 643,350 |
Service-based restricted stock awards |  |  | 7,522,436 |  |  |  | 700,797 |
Stock issued to consultants |  |  | 307,069 |  |  |  | - |
Common stock warrant expense |  |  | 1,835,166 |  |  |  | 1,668,333 |
Option expense |  |  | 1,593,527 |  |  |  | - |
Total stock-based compensation |  | $ | 10,834,838 |  |  | $ | 3,012,480 |
| The performance-based restricted stock awards contain reversal of share-based payment expenses from 2021 onwards for forfeited awards due to staff departures.
Schedule of Company’s Performance-Based Awards and Service Based Restricted Stock Awards | The following table presents a summary of the Company’s performance-based awards restricted stock awards activity:
|  | Number of shares |  |  | Weighted Average Remaining Contractual Life (in years) |
Outstanding as of December 31, 2022 |  |  | 342,310 |  |  |  | 8.33 |
Exercised |  |  | (100,000 | ) |  |  | - |
Expired/forfeited |  |  | (166,765 | ) |  |  | - |
Outstanding as of December 31, 2023 |  |  | 75,545 |  |  |  | 8.58 |
Exercisable as of December 31, 2023 |  |  | 44,327 |  |  |  | 4.60 |
The following table presents a summary of the Company’s service-based awards activity:
|  | Number of shares |  |  | Weighted Average Remaining Contractual Life (in years) |
Outstanding as of December 31, 2022 |  |  | 74,246 |  |  |  | 8.42 |
Issued |  |  | 6,143,346 |  |  |  | - |
Exercised |  |  | (203,760 | ) |  |  | - |
Expired/forfeited |  |  | (771,439 | ) |  |  | - |
Outstanding as of December 31, 2023 |  |  | 5,242,393 |  |  |  | 2.28 |
Exercisable as of December 31, 2023 |  |  | 16,804 |  |  |  | 0.03 |
Schedule of Stock Options Awards Activity | The following table presents a summary of the Company’s Stock options awards activity:
|  | Number of shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Aggregate Intrinsic Value |
Outstanding as of December 31, 2022 |  |  | 417 |  |  | $ | 35.90 |  |  |  | 1.26 |  |  | $ | - |
Issued |  |  | 3,500,000 |  |  |  | 1.22 |  |  |  | - |  |  |  | 6,923,000 |
Outstanding as of December 31, 2023 |  |  | 3,500,417 |  |  | $ | 1.23 |  |  |  | 9.70 |  |  | $ | 6,923,000 |
Exercisable as of December 31, 2023 |  |  | 417 |  |  | $ | - |  |  |  | - |  |  | $ | - |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration